Turnbull reverses decision to quit

Former opposition leader Malcolm Turnbull has announced he intends to stay on in federal politics.

In a statement issued this morning, Mr Turnbull said he would recontest his Sydney seat of Wentworth at this year’s election, reversing his recent decision to quit politics.

Malcolm Turnbull announces his return to politics this morning.Credit:Jacky Ghossein

Mr Turnbull lashed out at Prime Minister Kevin Rudd for ditching his promise to start emissions trading next year, to tackle climate change.

Mr Turnbull lost his leadership of the coalition last year partly because of his support for emissions trading.

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‘‘The Prime Minister’s abandonment of the central element in his climate change policy - measures which he said were necessary to combat the greatest moral challenge of our times - constitutes an extraordinary act of political cowardice,’’ he said in the statement.

The shelving of Labor’s plans for an ETS has removed a source of friction between Mr Turnbull and Opposition Leader Tony Abbott, who opposes emissions trading.

In the statement, Mr Turnbull said he had reconsidered his decision to leave politics, announced last month, because of a groundswell of support.

‘‘Since then I have been overwhelmed by the many local residents and members of the Liberal Party who have urged me personally and via hundreds of emails and letters to reconsider my decision and run again,’’ he said.

‘‘I have carefully reconsidered my decision, as my Party and many of my constituents have asked me to do.’’